Ultra kill. Liquidated
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brainlet here what does this mean
did he loose 3,8 million or what?
ABC correction confirmed?
3.8 million bitcoin...
Oh man that hurts. Why the fuck would you be short here?
3.8m BTC probably 200x leverage kek
3.8 million is nothing. He probably has 100x that amount on his account
i'm pretty sure it isn't 3.8 million bitcoins guys, it's 3.8m contracts instead. eh i cant remember someone explained this shit to me back then. maybe it's plain 3.8m
So he sold $3.8 mil of bitcoin at 12908? I don't see how this is losing unless btc never goes below that value?
No it got liquidated to cover the margin losses
He borrowed bitcoins to sell, hoping to buy back lower and repay the loan and increase profit. But Bitcoin when up and he was liquidated
A trader goes long 100 XBT of XBTUSD at a price of 600 USD. He is long 100 XBT * 600 USD = 60,000 contracts. You are right.
I don't think you know what liquidated means.
fucking wrecked, oh wait his buddy is doing the buying and the're splitting the profit. OY VEY
I mean you are right for the contracts
he had to buy 3.8M but he didn't get to keep them ..
what? no, if you buy 100 XBT it's 100 contracts @ 600 usd per contract, worth 60k usd
He probably hedged long already.
So that as bad as you think.
It’s advance trading.
Probably cheaper than to cancel the short.
he was short 3,887,164 contracts most likely at 100x leverage, and 1 contract is $1.
This means he lost about $19,000 ish minimum if my math is right.
He could have bought his own liquidation on another account though, so he might not have lost anything because he's winning on the other side of it, and he might have gained since getting liquidated means the insurance fund pays the fee.
also 3.8mil wasn't even that big lol.
at 10mil bitmex makes you put up more margin, so this guy lost a fucking shit ton more.
Looks like one of the TA brainlets got rekt.
Bitcoin will go to 8000
LOL idiot didn't price lock. Lovin my money tree
One contract equals 1 dollar